Taking stock(y)

The Swedish government is accelerating plans to privatize SEK 150 billion worth of state owned assets (including the makers of Absolut). Given that many longstanding SEK longs have been shaken out by the post-Riksbank caning of the Stocky over the past week, the techincal position of the market is cleaner in SEK than it has been for some time.

Macro Man therefore goes to market on his USD/SEK sell order at 7.05 spot basis, 7.0473 to the March 2 forward date.